Affordable Term Life Insurance

Term life insurance is one of the affordable life insurance

that can provide you coverage and give your family security, should any mishap happen to you your loved ones have something to fall back on. Term life insurance is also the simplest form of policy; you may consider this if you need additional coverage.

For premium calculation will base on how old you are and how long is your coverage. The younger you are the cheaper the premiums will be, this is definitely true because you can have longer time to pay your premiums. Your health is also another factor that will take into account how much your premiums will cost. For example those who have serious on going health problems such as asthma or high blood pressure would have to pay more than those who are fit and healthy. Weight is also another factor that will determine how much is your premiums. Someone who is overweight will be considered unhealthy or may have a higher health risk. An ideal body weight should be in proportion to the height. Healthy life style will benefit the buyer as well, for a none-smoker and none-alcoholic has a lower premium to pay.

Once the policy is endorsed you are under coverage, you will have to pay your premium until the period or term as specified. If you passed away within this period your family or the beneficiary will receive a lump sum payout. If you outlived the term you may renew the policy but with a higher premium because the older you are the higher the risk of death.

Whichever form of life insurance you buy you would have to read the terms and conditions carefully as all policies will have some exclusions. When you fill in your particulars and health status make sure all assertions are true and genuine, if any declarations made were discovered to be false and not honest your life insurance policy would not payout.

Term life insurance has its advantages and disadvantages, the biggest advantage is its cheap premium, but this policy carries no cash value, it only gives coverage to the insured. Therefore it is advisable to read the policy thoroughly before you put down your signature.